CompactGTL announces 3,000 bpd commercial small-scale GTL project in Kazakhstan

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CompactGTL will build a commercially deployed small-scale gas-to-liquids (GTL) plant in Kazakhstan. CompactGTL Chairman Tony Hayward and Uzakbay Karabalin, the Minister of Oil & Gas of the Republic of Kazakhstan, signed a Memorandum of Co-operation, which will also support the development and implementation in Kazakhstan of innovative associated gas processing technologies with the realisation of the plant.

Repsol and Alliance Oil to form an exploration and production JV in Russia

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Alliance Oil will hold a 51% stake in the joint venture and contribute producing assets in Volga-Urals Region while Repsol will own the remaining 49% and make an initial cash investment to finance future growth opportunities. Alliance Oil Company Ltd is a leading independent oil company with vertically integrated operations in Russia and Kazakhstan.

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Opinion: Oil Megaprojects Won’t Stay On The Shelf For Long

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The collapse in prices may mean we don’t see more white elephants like the Kashagan project in Kazakhstan, an offshore boondoggle that has required more than a decade of development, tens of billions of dollars, and still won’t come online for a few more years. Maintaining access to finance can come at a price. Bond markets have essentially been ruled out as a new source of finance for high-yield producers. by Nick Cunningham of Oilprice.com.

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IEA World Energy Outlook view on the transport sector to 2035; passenger car fleet doubling to almost 1.7B units, driving oil demand up to 99 mb/d; reconfirming the end of cheap oil

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The largest increase in oil production comes from Iraq, followed by Saudi Arabia, Brazil, Kazakhstan and Canada. Key challenges for Russia are to finance a new generation of higher-cost oil and gas fields and to improve its energy efficiency. Change in primary oil demand by sector and region in the central New Policies Scenario, 2010-2035. WEO 2011. Click to enlarge.

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